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Prescott, Arizona Real Estate Market Update for May 2011

By Paula Smith

Real Estate Agent with RE/MAX Mountain Properties

June 12, 2011 08:34 AM

The Real Estate Market is looking good in Prescott, Arizona!

Prescott Arizona Red Boots Maybe it is time to put on those red boots and go out and celebrate.

May 2011 Residential Sales 276

May 2011 Average Sale Price $165,987

May 2011 Average Days on Market 145

May 2011 Month End Inventory 2000

May 2011 Absorption Rate 7.2

Compare this to May of 2008

2008 Residential Sales 177

2008 Average Sale Price $266,816

2008 Average Days on Market 162

2008 Month End Inventory 3383

2008 Absorption Rate 19.6

Inventory is down, so are prices. Great time to hurry up and get a good buy. Sales are up but not interest rates!

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Ed & Barbara Heiser

LendSmart Mortgage - Mesa, AZ

VA FHA USDA & Conventional Home Loans

That really is great news Paula. AND I like the Boots :-)

Jun 12, 2011 08:37 AM

Paula Smith

RE/MAX Mountain Properties - Prescott, AZ

CDPE, CRS, SFR, Prescott Arizona

Thanks!

Jun 12, 2011 08:41 AM

Kay Van Kampen

RE/MAX Broker, RE/MAX - Springfield, MO

Realtor®, Springfield Mo Real Estate

Low interest rates, lower housing prices, less inventory........why wouldn't buyers jump in and buy? I believe it's the best time to market a home.

Jun 24, 2011 04:01 PM

Kay,

Every month I say prices can't get any better and then they keep "adjusting". This definately is the time to get in. For those who can't or who wait too long there is an old saying...." a day late and a dollar short"......or "when the goings good the good get going"......"get it while you can"..... there is a reason that these sayings are around!

Jun 24, 2011 04:24 PM

Prescott, Arizona Real Estate Market Update for May 2011

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